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EU mergers and takeovers (Feb 13)

EconomyFeb 13, 2018 12:00
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© Reuters. EU mergers and takeovers (Feb 13)

BRUSSELS, Feb 13 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS

-- Votorantim Geracao de Energia, which is a unit of Votorantimand Canada Pension Plan Investment Board, to acquire several windfarm companies (approved Feb. 12)

-- Private equity fund Nordic Capital VIII Limited to buy Alloheim Senioren-Residenzen Holding SE (approved Feb. 12)

NEW LISTINGS

-- Canadian pension fund Caisse de Depot Et Placement du Quebec to acquire joint control of Hyperion Insurance Group (notified Feb. 12/deadline March 19/simplified)

-- Steelmaker ArcelorMittal MT.AS to acquire a stake in Italian auto parts and steel products maker Centro Servizi Metalli S.p.A. (notified Feb. 9/deadline March 16/simplified)

EXTENSIONS AND OTHER CHANGES

None

FIRST-STAGE REVIEWS BY DEADLINE

FEB 16

-- German industrial gases group Linde LING.DE to merge with U.S. peer Praxair (NYSE:PX) PX.N (notified Jan. 12/ deadline Feb. 16)

FEB 21

-- U.S. car parts supplier Key Safety Systems, which is a unit of China's Ningbo Joyson Electronic Corp 600699.SS , to acquire Japanese car parts maker Takata Corp (notified Jan. 17/deadline Feb. 21)

FEB 26

-- Baking products maker the Oetker-Gruppe to acquire Belgian bakery goods supplier Diversi Foods (notified Jan. 22/deadline Feb. 26/simplified)

-- Anglo-Dutch oil group Royal Dutch Shell plc RDSa.L to acquire retail energy supplier Impello Limited (notified Jan. 22/deadline Feb. 26/simplified)

FEB 27

-- Private equity firm PAI and Canadian institutional investor British Columbia Investment Management Corp to jointly acquire fruit juice maker Refresco (notified Jan. 23/deadline Feb. 27/simplified)

FEB 28

-- Spanish energy company Repsol REP.MC and South Korean carmaker KIA Motors 000270.KS to set up a car-sharing joint venture (notified Jan. 24/deadline Feb. 28/simplified)

-- Chinese car parts maker Hasco and Canadian peer Magna MG.TO to set up a joint venture (notified Jan. 24/deadline Feb. 28/simplified)

-- Private equity firm Bain Capital to acquire Italian paper company Fedrigoni (notified Jan. 24/deadline Feb. 28/simplified)

MARCH 2

-- Private equity firm TA Associates to aquire a minority stake in software company Flexera Holdings (notified Jan. 26/deadline March 2/simplified)

-- Insurer ReAssure, which is part of Swiss Re SRENH.S , to acquire UK insurer Legal & General Group's LGEN.L Actaeon insurance business (notified Jan. 26/deadline March 2/simplified)

MARCH 5

-- French private equity firm Pai Partners to acquire French packaging group Albea (notified Jan. 29/deadline March 5/simplified)

MARCH 6

-- Australian chemicals maker Nufarm NUF.AX to acquire European crop protection product portfolio from Adama Agricultural Solutions Ltd ADAM.N and Syngenta (notified Jan. 30/deadline March 6)

MARCH 8

-- Michelin (PA:MICP) North America and Sumitomo Corp of America SUMTME.UL to start a joint venture (notified Feb. 1/deadline March 8/simplified)

MARCH 9

-- Chemicals company Quaker Chemical Corp KWR.N and Hinduja Group's Houghton Internatioal HGINL.UL to merge (notified Feb. 2/deadline March 9)

-- Singapore Airlines SIAL.SI and Canadian training centre operator CAE International Holdings Ltd to set up a joint venture (notified Feb. 2/deadline March 9/simplified)

-- British broadcaster Channel 4 to acquire joint control of European Broadcaster Exchange, which is jointly owned by Germany's ProSiebenSat.1 Media SE PSMGn.DE , Television Francaise TFFP.PA , Mediaset S.p.A MS.MI and Spanish TV networks (notified Feb. 2/deadline March 9/simplified)

MARCH 12

-- France's Oney Bank S.A. which is part of Auchan Holding S.A. AUCH.UL , and web platform 4Finance to set up a joint venture (notified Feb. 5/deadline March 12/simplified)

MARCH 14

-- Private equity firm Lone Star to acquire Nordic building materials distributor Stark from British company Ferguson FERG.L (notified Feb. 7/deadline March 14)

MARCH 15

-- Canada's Brookfield Business Partners BBU_u.TO to acquire a controlling stake in plastic packaging maker Schoeller Allibert from an indirect subsidiary of JPMorgan Chase & Co (NYSE:JPM) JPM.N (notified Feb. 8/deadline March 15/simplified)

MARCH 16

-- British turnaround specialist Melrose Industries MRON.L to acquire British engineering company GKN GKN.L (notified Feb. 9/deadline March 16/simplified)

-- U.S. packaging company Crown Holdings Inc CCK.N to acquire U.S. peer Signode Industrial Group Holdings Ltd SIGL.UL (notified Feb. 9/deadline March 16/simplified)

-- Canada's Brookfield Business Partners BBU_u.TO to acquire U.S. nuclear plant maker Westinghouse Electric Co LLC from Japan's Toshiba Corp 6502.T (notified Feb. 9/deadline March 16/simplified)

MARCH 22

-- Italian eyewear maker Luxottica LUX.MI and French lens manufacturer Essilor ESSI.PA to merge (notified Aug. 22/deadline extended to March 22 from March 8)

MARCH 26

-- U.S. specialty material company Celanese CE.N and private equity firm Blackstone (NYSE:BX) BX.N to combine their cellulose acetate tow units under a new joint venture (notified Sept. 9/deadline extended to March 26 from March 19)

APRIL 4

-- Luxembourg-based steelmaker ArcelorMittal MT.AS to acquire Italian steel plant (notified Sept. 21/deadline extended to April 4 from March 23 after the companies asked for more time)

APRIL 5

-- German industrial group Bayer BAYGn.DE to acquire U.S. seeds company Monsanto (NYSE:MON) MON.N (notified June 30/deadline extended to April 5 from March 12 after Bayer offered concessions)

MAY 30

-- South African chemicals company Tronox TROX.N to acquire the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia's Tasnee (notified Nov. 15/deadline extended to May 30 from mAY 15)

GUIDE TO EU MERGER PROCESS

DEADLINES:

The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that by 10 working days to 35 working days, to consider either a company's proposed remedies or an EU member state's request to handle the case.

Most mergers win approval but occasionally the Commission opens a detailed second-stage investigation for up to 90 additional working days, which it may extend to 105 working days.

SIMPLIFIED:

Under the simplified procedure, the Commission announces the clearance of uncontroversial first-stage mergers without giving any reason for its decision. Cases may be reclassified as non-simplified - that is, ordinary first-stage reviews - until they are approved.

EU mergers and takeovers (Feb 13)
 

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